BBB Reports Over 3,600 Business Scam Cases Since 2022

SACRAMENTO, Calif. (KY3) – The Better Business Bureau (BBB) has reported a surge in business scams, with over 3,600 cases logged since 2022. These scams encompass impersonations, data breaches, and fraudulent services, leading to substantial financial losses for businesses.

According to the BBB, scammers can swiftly deplete a company’s funds, with federal agencies indicating that total losses from such scams reach billions annually. The report titled “How impostors, stolen data, and fake services cost businesses billions” outlines patterns and shares survivor testimonials to help businesses mitigate risks.

One key finding shows that business scams are widespread across North America, with the FBI documenting that data breaches alone cost businesses $1.4 billion in 2024. Additionally, email compromise scams pose a significant threat, where scammers impersonate employees to access sensitive information or funds.

The BBB identifies various signs of business scams, including unsolicited outreach from unknown entities, suspicious invoices, and urgent demands for payments. Business owners are urged to train employees to recognize these scams to protect their operations.

“Establishing secure payment procedures and implementing robust cybersecurity measures are crucial steps that can save businesses from significant losses,” the BBB recommends. By taking proactive measures, companies can fortify themselves against the ever-evolving threat of scams.

For more information on how to safeguard your business, visit the BBB’s website.